The feasibility of a government-backed cyclone reinsurance pool will be examined as a possible measure to lower premiums in northern Australia, after insurers and Federal Assistant Treasurer Michael Sukkar held discussions in Townsville last week.
Most Aussie small business owners aren't sure whether their insurance is the right fit anymore, according to the findings of a survey commissioned by QBE.
Younger Australians are more worried about retirement savings than those close to or in retirement, and Australians overall are more anxious about retirement finance than their global peers, according to new research by global asset management firm Franklin Templeton.
Bushfires have cost Australian insurers more than A$120m ($82m) so far this year, and the losses are continuing to mount, according to the Insurance Council of Australia (ICA).
Australian consumer advocacy group CHOICE has launched a campaign to improve the private health insurance system. It is also seeking an inquiry into the sector.
The Australian Financial Complaints Authority (AFCA), which marked the first anniversary of its establishment on 1 November, has released a new online tool allowing Australians to see how their insurer, bank, financial adviser, superannuation fund or other financial firm has responded to consumer complaints brought to the Authority.
The Underwriting Agencies Council (UAC), the representative organisation for Australia's underwriting agencies, has received 11 nominations for four vacancies on the board of directors. The election will be conducted at UAC's annual general meeting on 11 December at Lloyd's Australia and those elected will each serve a two-year term.
The Insurance Council of Australia (ICA) has declared a catastrophe for the tragic bushfires blazing in northern New South Wales, that has so far destroyed more than 150 homes.
The Insurance Council of Australia (ICA) is working with governments to improve conditions in the professional indemnity insurance (PII) market in the construction industry and restore insurers' confidence in the building sector, but expects that a cladding exclusion may be required beyond the currently prescribed date.
The Insurance Council of Australia (ICA) board has approved a new General Insurance Code of Practice after one of the most extensive reviews in the Code's 25-year history. The Code will be formally launched in early 2020.